REG - Blackfinch SpringVCT - Publication of Prospectus and Circular

Blackfinch Spring VCTAnnouncement

09/09/2024 14:45

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RNS Number : 4711D  Blackfinch Spring VCT PLC  09 September 2024

9 September 2024

Blackfinch Spring VCT plc (the "Company")

Publication of Prospectus and Circular

The Company has issued a prospectus dated 9 September 2024 (the "Prospectus"),
relating to a proposed offer for subscription of ordinary shares of 1p each in
the Company ("Shares") to raise up to £20 million with an over-allotment of
up to a further £20 million (the "Offer"), and a circular (the "Circular") in
connection with the Offer, following approval from the Financial Conduct
Authority.

The Circular includes a notice of a general meeting to be held on 10 October
2024 (the "General Meeting").

Pursuant to an agreement dated 9 September 2024 relating to the Offer between,
inter alia, the Company and Blackfinch Investments Limited, the Company's
investment manager (the "Manager"), the Manager will receive:

·      an initial charge of 2.5 per cent. of the gross funds raised
under the Offer by the Company; and

·      a further charge of up to 3 per cent of gross funds raised under
the Offer by the Company from investors who have not invested their money
through a financial intermediary ("Direct Investors");

As the Manager is the Company's investment manager and, therefore, a related
party of the Company under the UK Listing Rules, the payment of the above fees
by the Company to the Manager is a transaction to which UK Listing Rule 11.5.5
applies. Accordingly, the Offer is conditional on shareholders passing
Resolution 1 at the General Meeting.

The Offer will open on 9 September 2024 and will close at 5pm on 3 April 2025
for the 2024/2025 tax year and 5pm on 20 August 2025 for the 2025/2026 tax
year, or earlier if the Offer is fully subscribed. The board of the Company
reserves the right to close the Offer earlier.

The Prospectus and Circular will shortly be available for inspection at the
National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://www.globenewswire.com/Tracker?data=fCyfTwW7fzVUfFWzYbBsaMJLI-k66PbYu_qmFZvGgaaAHNQEtwkoDINSGkuDf2u8Yi-9BceujsqtU0atZLqznwWH036Zeaxsomxe5JggNrvpENfN8Aa_th884MaK4CiH9Qr52HKs8kMyXKcRvHKeekW33Y7p6n6ZEICw_BIITQZSf0MfkpP9F7fRpVsAdI80)

and on the Company's website

www.blackfinch.ventures/vct (http://www.blackfinch.ventures/vct)

 

For further information please contact:

Blackfinch Investments Limited (Investment Manager)

01452 717070

 

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com

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